New Delhi, Jan. 23 -- Business tycoon Gautam Adani-controlled Adani Groups Non-Banking Financial (NBFC) arm has acquired Essel Finances Micro, Small and Medium Enterprise (MSME) loan business.
According to a statement, Adani Capital Pvt. Ltd secured a loan book of about Rs 145 crore with this acquisition. It didnt give any other financial details.
Essel Finances MSME vertical has about 1,100 customers and 40 employees in 10 cities.
Adani Capital is a 100% subsidiary of Adani Finserve Pvt. Ltd, the holding company of Adani Groups financial services business.
MGB Business Advisors Pvt. Ltd was the financial adviser on the transaction while Cyril Amarchand Mangaldas was the legal adviser, the statement added.
This is the second deal ...